South Korea's KOSPI jumps more than 5 percent in early trade, extending the previous session’s gains. The rally also triggers a buy-sidecar in the main board market that temporarily suspends the effectiveness of program buy orders.

As of 9:10 a.m. on June 25, the KOSPI is up 411.86 points, or 4.86 percent, from the previous session at 8,882.88. The index opens up 232.40 points, or 2.74 percent, at 8,703.42 and rises as high as 8,968.53, nearing 9,000 again.

The Korea Exchange triggers a buy-sidecar at 9:07 a.m., suspending the effectiveness of program buy orders in the main board market for five minutes. It is the 15th time this year a buy-sidecar has been triggered in the main board market. It is the 28th time this year including both buy and sell sidecars.

In the main board market, individuals and institutions are net buyers of 649.8 billion won and 133.3 billion won, respectively. Foreigners are net sellers of 788.5 billion won. Turnover is tallied at 4.8 trillion won.

Among the top stocks by market value, chip shares stand out for gains. SK Hynix is up 246,000 won, or 9.53 percent, from the previous session at 2,826,000 won. Samsung Electronics is up 15,000 won, or 4.41 percent, at 355,500 won.

Other semiconductor and information technology-related shares are also rising, including SK Square, up 7.45 percent, and Samsung Electro-Mechanics, up 2.95 percent. Samsung C&T is surging 12.36 percent, while Samsung Life Insurance, up 3.23 percent, Hyundai Motor, up 0.79 percent, and LG Energy Solution, up 0.14 percent, are also higher.

Samsung Biologics, meanwhile, is down 1.16 percent.

KOSDAQ also opens higher. At the same time, KOSDAQ is up 19.23 points, or 2.11 percent, at 928.54.

The won-dollar exchange rate is rising. The won is trading at 1,546.20 per dollar in the morning, up 2.70 won, or 0.17 percent, from the previous session. With the exchange rate rising to the mid-1,540 won range, foreign inflow concerns appear to remain.

In the brokerage industry, the view is that a rebound centered on chip shares is continuing on the day after the previous session’s rise.

Han Ji-young (한지영), a researcher at Kiwoom Securities, analyzes that foreigners are still reducing their weighting in South Korean stocks centered on semiconductors, recording net selling on the KOSPI of 44.3 trillion won in May and 31 trillion won in June. She adds that, looking at flows for MSCI Korea Index ETF supply and demand and ETF fund flows that include Samsung Electronics and SK Hynix, it is hard to see it as a bet on a peak-out in the memory cycle.

She says that considering Micron's earnings surprise and SK Hynix shareholder disclosures, a semiconductor concentration could appear again on the day.